REBGV Stats Package, April 2010 - Jay Banks
News Release FOR IMMEDIATE RELEASE
Home buyer and seller activity increases in busy spring market VANCOUVER, B.C. – May 4, 2010 –The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the fifth highest-selling April on record. The figure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more than April 2008’s 3,218 sales; and 3.7 per cent more than April 2007’s 3,387 sales. April 2010 sales also represent a 12 per cent increase compared to last month. “We’re in the midst of another strong spring season thanks to high levels of activity on both the buyer and seller side of our market,” Jake Moldowan, REBGV president said. “The number of homes coming on the market has increased significantly in recent months, which is providing a healthy level of choice for those looking to buy during this busy period.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 7,648 in April 2010, a 64.5 per cent increase compared to April 2009 when 4,649 new units were listed, and a 9.2 per cent increase compared to March 2010 when 7,004 properties were added to the Multiple Listing Service® (MLS®). At 15,901, the total number of property listings on the MLS® increased 17 per cent in April compared to last month, and is up 11 per cent compared to this time last year. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 18.9 per cent to $593,419 from $499,021 in April 2009. “It was at this time last year when home prices in our region began their recovery from the declines that occurred during the recession period,” Moldowan said. Sales of detached properties in April 2010 reached 1,370, an increase of 15.1 per cent from the 1,190 detached sales recorded in April 2009 and a six per cent increase from the 1,293 units sold in April 2008. The benchmark price for detached properties increased 21.2 per cent from April 2009 to $818,403. Sales of apartment properties reached 1,526 in April 2010, an increase of 29.4 per cent compared to the 1,179 sales in April 2009 and an increase of 15.9 per cent compared to the 1,317 sales in April 2008.The benchmark price of an apartment property increased 16.9 per cent from April 2009 to $397,779. Attached property sales in April 2010 totalled 616, an increase of 3.7 per cent compared to the 594 sales in April 2009 and a 1.3 per cent increase from the 608 attached properties sold in April 2008. The benchmark price of an attached unit increased 16.4 per cent between April 2009 and 2010 to $502,399. -30The Real Estate industry is a key economic driver in British Columbia. In 2009, 35,669 homes changed hands in the Board's area, generating $1.49 billion in spin-off activity. The Real Estate Board of Greater Vancouver is an association representing more than 9,800 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.
For more information please contact: Craig Munn, Assistant Manager, Communications Real Estate Board of Greater Vancouver Phone: (604) 730-3146 Fax: (604) 730-3102 E-mail: [email protected]
also available at Ü www.realtylink.org
MLSLINK HOUSING PRICE INDEX
Preliminary Report
April 2010 PROPERTY TYPE Residential Detached
Attached
AREA Greater Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge New Westminster North Vancouver Pitt Meadows Port Coquitlam Port Moody Richmond Squamish Sunshine Coast Vancouver East Vancouver West West Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows
Apartment
North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows
New Westminster North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West West Vancouver
BENCHMARK PRICE 3 MONTH AVG PRICE 1 YEAR 3 YEAR 5 YEAR PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE (+/-) PRICE % % % $593,419 0.6% $586,588 250.64 18.9 15.3 56.6 $818,403 1.3% $806,514 241.7 21.2 17.7 57.8 $791,994 2.0% $790,146 233.1 18.1 14.5 55.2 $719,299 6.9% $707,323 253.0 21.8 17.6 60.0 $698,066 3.5% $675,615 228.1 15.6 15.5 48.6 $469,545 2.5% $456,486 214.2 15.3 9.6 39.4 $600,653 3.6% $594,169 247.6 11.7 13.9 46.0 $938,235 2.4% $927,168 234.4 19.9 14.7 49.1 $541,599 6.5% $528,888 222.3 4.1 17.2 46.7 $575,915 4.1% $561,535 243.4 15.4 19.2 50.2 $778,751 11.8% $665,006 234.1 -0.1 5.7 44.7 $915,679 1.8% $897,948 270.3 34.2 32.5 83.6 $489,321 6.7% $511,723 185.9 -4.9 3.9 19.2 $427,864 5.0% $422,177 243.4 -1.5 5.7 34.7 $746,677 2.0% $736,859 252.9 22.8 18.9 63.8 $1,675,881 2.2% $1,666,652 278.1 35.4 30.9 87.3 $1,400,447 4.2% $1,440,626 206.3 24.3 -1.3 26.5 $502,399 0.7% $497,053 243.7 16.4 16.2 54.2 $493,368 1.3% $486,734 247.2 15.8 17.9 56.2 $452,598 2.2% $445,673 244.1 19.0 15.7 50.1 $466,097 7.2% $477,500 249.6 3.5 19.2 49.4 $319,704 2.1% $315,435 221.8 9.2 7.4 40.9 $628,406 2.2% $614,489 245.9 18.7 12.4 50.9 $407,503 2.6% $410,118 224.1 11.4 10.6 45.5 $413,887 3.3% $407,630 247.0 15.2 11.3 49.4 $513,420 1.4% $511,228 247.6 19.5 22.4 63.8 $550,950 2.7% $533,197 257.6 15.3 18.8 60.6 $775,953 2.5% $770,924 276.9 21.0 17.7 57.1 $397,779 0.5% $394,728 258.8 16.9 12.0 56.5 $355,121 1.1% $353,026 265.4 15.4 13.0 56.0 $294,860 1.8% $293,844 251.4 16.3 6.9 52.5 $364,462 4.9% $359,571 237.4 14.9 16.4 55.7 $254,845 3.2% $250,041 270.6 10.1 2.0 57.3 $302,950 1.8% $298,881 246.1 13.3 7.8 55.4 $390,383 1.9% $394,289 248.4 14.9 5.4 47.3 $252,385 1.8% $255,038 295.6 11.7 5.5 55.1 $306,550 2.8% $302,211 261.6 9.9 4.1 52.7 $337,834 1.1% $335,735 274.6 18.2 16.1 63.5 $338,483 1.8% $333,853 277.1 14.9 14.9 68.9 $512,252 0.9% $509,116 260.6 19.0 13.8 55.0 $727,384 9.2% $660,215 261.0 31.1 10.6 48.5
HOW TO READ THE TABLE: BENCHMARK PRICE: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market. PRICE RANGE: Expresed as a + or - percentage of the benchmark price, there is a 90% probability the sale price of a benchmark house is within the interval. PRICE INDEX: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In Year 2001, the indexes are averaged to 100 Key: * = Sales sample too small; Price information not reported.
Apr 2010 Dec 2009 Aug 2009 Apr 2009 Dec 2008 Aug 2008
Aug 2007 Apartment
Apr 2007 Dec 2006 Aug 2006 Apr 2006 Dec 2005
Attached
Aug 2005 Apr 2005 Dec 2004 Aug 2004
Detached
Apr 2004 Dec 2003 Aug 2003 Apr 2003 Dec 2002 Aug 2002 Apr 2002 Dec 2001 Aug 2001 Apr 2001 Dec 2000 Aug 2000 80
100
120
140
160
180
200
220
240
260
Apr 2000 280
Year 2001 average = 100
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing
Dec 2007
Price Index
Price Index - Greater Vancouver 10 Year Trend
Apr 2008
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
$310,000
$415,500
Attached
Apartment
$637,500
Detached
219
Attached
408
242
Detached
Apartment
$342,000
$470,000
Apartment
Attached
291
Attached
$773,000
398
Detached
Detached
$317,000
Apartment
629
$420,000
Apartment
$640,000
Attached
88
Attached
Detached
96
Detached
162
$340,000
Apartment
Apartment
$460,000
75
Attached
$773,000
126
Detached
Attached
$345,000
Apartment
Detached
$487,450
Attached
170
$769,000
Detached
Apartment
203
98
Attached
Apartment
127
Detached
2010
Coquit lam $245,000
$373,000
$534,500
171
80
257
$273,050
$472,500
$660,000
264
151
368
$247,000
$407,000
$535,250
59
36
104
$283,000
$465,950
$640,500
63
32
112
$279,250
$468,000
$685,000
90
59
96
Delta South $307,500
$399,900
$576,000
36
21
164
$321,000
$419,000
$635,000
55
23
159
n/a
n/a
$596,400
8
11
56
n/a
n/a
$622,500
13
8
44
n/a
n/a
$635,000
14
8
61
Islands - Gulf n/a
n/a
n/a
0
0
3
n/a
n/a
n/a
0
0
8
n/a
n/a
n/a
0
0
1
n/a
n/a
n/a
0
0
3
n/a
n/a
n/a
0
0
4
$205,000
$283,500
$435,000
54
106
306
$232,000
$310,000
$489,000
105
169
406
n/a
$299,250
$440,000
16
48
127
$232,000
$304,000
$492,000
38
50
118
$232,000
$320,500
$490,000
25
46 96
10
41
$260,000
$343,900
$490,000
234
28
61
$293,000
$418,250
$619,900
303
38
101
$280,000
n/a
$485,250
79
9
31
$274,000
n/a
$656,100
87
11
29
$299,450
n/a
$565,000
Maple R id g e/Pitt M eadow s 131
$317,000
$507,500
$725,000
210
94
236
$375,000
$635,000
$885,000
297
149
334
$337,000
$570,000
$750,000
84
49
109
$369,000
$639,500
$889,000
73
43
95
$371,000
$645,000
$890,000
104
51
121
North Vanco uver
Note: Median Selling Prices are not reported for areas with less than 20 sales or for the Gulf Islands
Year-to-date
Jan. Apr. 2009
Year-to-date
Jan. Apr. 2010
April 2009
March 2010
April 2010
Number of Sales
April 2010
17
Port C oquitla m $220,500
$359,950
$457,950
96
86
122
$237,000
$386,000
$532,500
132
87
152
$231,000
$380,000
$460,000
41
39
49
$232,750
$386,500
$545,000
40
34
45
$237,000
$378,450
$572,850
42
28
42
Port M oody/B elcarra $302,500
$388,000
$645,000
77
65
47
$352,500
$474,000
$785,000
105
76
79
$325,900
$375,000
n/a
26
24
18
$375,000
n/a
$875,000
27
19
30
$362,000
$510,000
$728,750
31
28
26
Richm ond $279,000
$410,000
$655,250
431
281
352
$328,300
$480,000
$826,500
703
418
667
$285,000
$422,000
$660,000
162
132
135
$338,000
$499,500
$848,000
200
149
222
$325,000
$476,500
$795,000
207
116
178
Squam ish n/a
n/a
$465,400
9
17
30
$265,500
$400,000
$537,000
29
31
58
n/a
n/a
n/a
3
5
11
n/a
n/a
n/a
8
8
11
n/a
n/a
$539,500
8
14
28
n/a
n/a
$369,000
10
11
89
n/a
$272,500
$415,000
16
20
156
n/a
n/a
$380,000
5
3
31
n/a
n/a
$400,000
4
2
39
n/a
n/a
$415,000
5
9
57
Sunsh ine Co ast
4
y
Burnab
er New W estmin st
Vanco uver E ast $278,950
$462,250
$609,500
259
86
420
$328,750
$570,800
$743,000
466
154
599
$274,000
$467,500
$607,300
97
38
167
$331,500
$555,000
$770,000
120
41
174
$320,500
$581,000
$750,000
144
41
168
Vanco uver W est $398,000
$606,500
$1,220,000
1,114
210
483
$465,000
$794,500
$1,726,000
1,566
236
633
$398,000
$628,000
$1,300,000
418
98
193
$484,250
$819,500
$1,745,000
387
64
208
$450,750
$762,250
$1,698,000
539
88
193
$460,000
n/a
$1,200,000
36
4
143
$685,000
$1,029,000
$1,459,500
56
26
249
n/a
n/a
$1,200,000
13
3
59
n/a
n/a
$1,465,000
18
6
72
n/a
n/a
$1,545,000
14
7
91
6
17
39
27
n/a
n/a
n/a
6
11
3
n/a
n/a
n/a
4
7
8
n/a
n/a
n/a
4
13
$270,000
$380,000
n/a
21
30
11
n/a
$505,500
$920,000
Sound Wes t V a n couve r/Howe
MLS® SALES Facts
Whistl er/Pem berton n/a
3,166
1,338
2,966
n/a
4,743
1,908
4,394
n/a
1,179
594
1,190
n/a
1,252
549
1,336
n/a
1,526
616
1,370
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
50%
50%
Attached
Apartment
43%
Detached
441
Attached
811
562
Detached
Apartment
46%
55%
Apartment
46%
530
Attached
Attached
858
Detached
Detached
73%
Apartment
1,373
73%
Apartment
63%
Attached
121
Attached
Detached
153
Detached
223
43%
Apartment
52%
Apartment
143
Attached
Attached
248
Detached
51%
47%
Apartment
Detached
56%
Attached
400
46%
Detached
Apartment
428
174
Attached
Apartment
275
Detached
2010
Coquit lam 48%
37%
40%
355
217
638
42%
48%
43%
625
313
855
63%
71%
51%
94
51
205
37%
36%
49%
172
90
230
48%
53%
34%
186
111
280
Delta South 49%
53%
49%
73
40
337
51%
41%
44%
108
56
358
47%
138%
57%
17
8
99
76%
42%
46%
17
19
96
32%
42%
52%
44
19
118
Islands - Gulf 0%
0%
6%
2
1
49
0%
n/a
12%
2
0
65
n/a
n/a
5%
0
0
19
n/a
n/a
13%
0
0
23
n/a
n/a
24%
0
0
17
32%
40%
40%
170
262
759
36%
57%
44%
291
299
917
37%
89%
65%
43
54
194
68%
55%
49%
56
91
241
43%
53%
45%
58
86
293
Maple R id g e/Pitt M eadow s 50%
43%
41%
464
65
147
44%
75%
49%
686
51
208
69%
43%
91%
114
21
34
44%
69%
43%
197
16
68
56%
100%
59%
172
10
69
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Apr. 2009
Year-to-date*
Jan. Apr. 2010
April 2009
March 2010
April 2010
Number of Listings
April 2010
17
North Vanco uver 47%
43%
45%
447
218
530
42%
57%
46%
710
262
728
71%
70%
73%
118
70
150
36%
54%
45%
203
79
211
48%
57%
44%
216
90
275
Port C oquitla m 51%
56%
56%
189
153
216
46%
53%
44%
289
163
346
68%
98%
89%
60
40
55
49%
69%
47%
82
49
95
59%
67%
36%
71
42
117
Port M oody/B elcarra 42%
42%
29%
184
154
164
35%
55%
40%
298
138
199
52%
52%
41%
50
46
44
38%
50%
58%
71
38
52
34%
58%
41%
91
48
63
Richm ond 53%
56%
46%
814
502
762
51%
57%
53%
1,366
733
1,263
62%
78%
63%
263
169
213
51%
61%
60%
393
243
372
52%
50%
46%
396
230
385
Squam ish 11%
22%
25%
80
76
122
45%
36%
35%
65
87
168
8%
18%
29%
39
28
38
53%
32%
20%
15
25
54
35%
52%
57%
23
27
49
Sunsh ine Co ast 22%
42%
24%
46
26
375
31%
36%
28%
51
55
556
17%
38%
29%
29
8
107
27%
17%
26%
15
12
151
167%
90%
35%
3
10
162
40%
41%
53%
641
212
799
49%
53%
48%
947
292
1,238
55%
47%
69%
175
81
242
43%
65%
53%
276
63
331
47%
35%
41%
306
117
408
Vanco uver E ast
4
y
Burnab
er New W estmin st
Vanco uver W est 48%
43%
56%
2,327
490
869
42%
42%
50%
3,747
567
1,258
76%
81%
73%
552
121
266
33%
37%
56%
1,168
175
370
46%
45%
46%
1,163
194
424
Sound 35%
10%
35%
104
41
412
35%
38%
40%
160
68
626
46%
21%
48%
28
14
124
44%
43%
40%
41
14
179
33%
28%
47%
42
25
195
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
22%
23%
14%
95
129
80
11%
25%
22%
148
159
123
35%
33%
16%
17
33
19
11%
14%
24%
38
49
33
8%
28%
15%
50
47
39
Whistl er/Pem berton n/a
6,802
3,027
6,821
n/a
10,866
3,773
9,766
n/a
1,822
865
1,962
n/a
3,144
1,106
2,754
n/a
3,249
1,230
3,169
Real Estate Board of Greater Vancouver Listing & Sales Activity Summary Listings
Sales
1 Apr 2009
2 Mar 2010
3 Apr 2010
5 Apr 2009
6 Mar 2010
7 Apr 2010
153 121 223
248 143 400
275 174 428
10.9 21.7 7.0
96 88 162
126 75 170
127 98 203
0.8 30.7 19.4
213 201 366
330 235 517
54.9 16.9 41.3
205 51 94
230 90 172
280 111 186
21.7 23.3 8.1
104 36 59
112 32 63
96 59 90
-14.3 84.4 42.9
230 73 139
302 125 211
31.3 71.2 51.8
99 8 17
96 19 17
118 19 44
22.9 0.0 158.8
56 11 8
44 8 13
61 8 14
38.6 0.0 7.7
151 20 34
143 22 48
-5.3 10.0 41.2
194 54 43
241 91 56
293 86 58
21.6 -5.5 3.6
127 48 16
118 50 38
131 46 25
11.0 -8.0 -34.2
268 93 43
334 144 87
24.6 54.8 102.3
150 70 118
211 79 203
275 90 216
30.3 13.9 6.4
109 49 84
95 43 73
121 51 104
27.4 18.6 42.5
224 90 187
294 124 242
31.3 37.8 29.4
34 21 114
68 16 197
69 10 172
1.5 -37.5 -12.7
31 9 79
29 11 87
41 10 96
41.4 -9.1 10.3
55 23 210
91 28 256
65.5 21.7 21.9
44 46 50
52 38 71
63 48 91
21.2 26.3 28.2
18 24 26
30 19 27
26 28 31
-13.3 47.4 14.8
45 59 67
66 65 83
46.7 10.2 23.9
55 40 60
95 49 82
117 42 71
23.2 -14.3 -13.4
49 39 41
45 34 40
42 28 42
-6.7 -17.6 5.0
111 81 86
127 80 113
14.4 -1.2 31.4
213 169 263
372 243 393
385 230 396
3.5 -5.3 0.8
135 132 162
222 149 200
178 116 207
-19.8 -22.1 3.5
322 268 375
554 346 561
72.0 29.1 49.6
107 8 29
151 12 15
162 10 3
7.3 -16.7 -80.0
31 3 5
39 2 4
57 9 5
46.2 350.0 25.0
81 9 10
129 18 14
59.3 100.0 40.0
38 28 39
54 25 15
49 27 23
-9.3 8.0 53.3
11 5 3
11 8 8
28 14 8
154.5 75.0 0.0
26 15 6
49 25 19
88.5 66.7 216.7
242 81 175
331 63 276
408 117 306
23.3 85.7 10.9
167 38 97
174 41 120
168 41 144
-3.4 0.0 20.0
378 75 237
487 118 376
28.8 57.3 58.6
266 121 552
370 175 1168
424 194 1163
14.6 10.9 -0.4
193 98 418
208 64 387
193 88 539
-7.2 37.5 39.3
437 196 997
531 206 1268
21.5 5.1 27.2
19 33 17
33 49 38
39 47 50
18.2 -4.1 31.6
3 11 6
8 7 4
6 13 4
-25.0 85.7 0.0
10 23 15
22 26 10
120.0 13.0 -33.3
124 14 28
179 14 41
195 25 42
8.9 78.6 2.4
59 3 13
72 6 18
91 7 14
26.4 16.7 -22.2
121 3 33
223 19 47
84.3 533.3 42.4
1943 865 1822
2731 1106 3144
3152 1230 3249
15.4 11.2 3.3
1189 594 1179
1333 549 1252
1366 616 1526
2.5 12.2 21.9
2672 1229 2805
3682 1581 3852
37.8 28.6 37.3
%
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
Col. 6 & 7 Percentage Variance
9 Feb 2009 Apr 2009
10 Feb 2010 Apr 2010
%
Col. 9 & 10 Percentage Variance
%
COQUITLAM DETACHED ATTACHED APARTMENTS
DELTA DETACHED ATTACHED APARTMENTS
MAPLE RIDGE/PITT MEADOWS DETACHED ATTACHED APARTMENTS
NORTH VANCOUVER DETACHED ATTACHED APARTMENTS
NEW WESTMINSTER DETACHED ATTACHED APARTMENTS
PORT MOODY/BELCARRA DETACHED ATTACHED APARTMENTS
PORT COQUITLAM DETACHED ATTACHED APARTMENTS
RICHMOND DETACHED ATTACHED APARTMENTS
SUNSHINE COAST DETACHED ATTACHED APARTMENTS
SQUAMISH DETACHED ATTACHED APARTMENTS
VANCOUVER EAST DETACHED ATTACHED APARTMENTS
VANCOUVER WEST DETACHED ATTACHED APARTMENTS
WHISTLER DETACHED ATTACHED APARTMENTS
WEST VANCOUVER/HOWE SOUND DETACHED ATTACHED APARTMENTS
GRAND TOTALS DETACHED ATTACHED APARTMENTS
0
200
400
600
800
1000
1200
CONDOMINIUM
ATTACHED
APARTMENTS
$427,847
$551,385
$1,003,884
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
IN THOUSANDS ($)
DETACHED
Real Estate Board of Greater Vancouver Average Price Graph January 1977 to April 2010
Home buyer and seller activity increases in busy spring market VANCOUVER, B.C. – May 4, 2010 –The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the fifth highest-selling April on record. The figure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more than April 2008’s 3,218 sales; and 3.7 per cent more than April 2007’s 3,387 sales. April 2010 sales also represent a 12 per cent increase compared to last month. “We’re in the midst of another strong spring season thanks to high levels of activity on both the buyer and seller side of our market,” Jake Moldowan, REBGV president said. “The number of homes coming on the market has increased significantly in recent months, which is providing a healthy level of choice for those looking to buy during this busy period.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 7,648 in April 2010, a 64.5 per cent increase compared to April 2009 when 4,649 new units were listed, and a 9.2 per cent increase compared to March 2010 when 7,004 properties were added to the Multiple Listing Service® (MLS®). At 15,901, the total number of property listings on the MLS® increased 17 per cent in April compared to last month, and is up 11 per cent compared to this time last year. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 18.9 per cent to $593,419 from $499,021 in April 2009. “It was at this time last year when home prices in our region began their recovery from the declines that occurred during the recession period,” Moldowan said. Sales of detached properties in April 2010 reached 1,370, an increase of 15.1 per cent from the 1,190 detached sales recorded in April 2009 and a six per cent increase from the 1,293 units sold in April 2008. The benchmark price for detached properties increased 21.2 per cent from April 2009 to $818,403. Sales of apartment properties reached 1,526 in April 2010, an increase of 29.4 per cent compared to the 1,179 sales in April 2009 and an increase of 15.9 per cent compared to the 1,317 sales in April 2008.The benchmark price of an apartment property increased 16.9 per cent from April 2009 to $397,779. Attached property sales in April 2010 totalled 616, an increase of 3.7 per cent compared to the 594 sales in April 2009 and a 1.3 per cent increase from the 608 attached properties sold in April 2008. The benchmark price of an attached unit increased 16.4 per cent between April 2009 and 2010 to $502,399. -30The Real Estate industry is a key economic driver in British Columbia. In 2009, 35,669 homes changed hands in the Board's area, generating $1.49 billion in spin-off activity. The Real Estate Board of Greater Vancouver is an association representing more than 9,800 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.
For more information please contact: Craig Munn, Assistant Manager, Communications Real Estate Board of Greater Vancouver Phone: (604) 730-3146 Fax: (604) 730-3102 E-mail: [email protected]
also available at Ü www.realtylink.org
MLSLINK HOUSING PRICE INDEX
Preliminary Report
April 2010 PROPERTY TYPE Residential Detached
Attached
AREA Greater Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge New Westminster North Vancouver Pitt Meadows Port Coquitlam Port Moody Richmond Squamish Sunshine Coast Vancouver East Vancouver West West Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows
Apartment
North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows
New Westminster North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West West Vancouver
BENCHMARK PRICE 3 MONTH AVG PRICE 1 YEAR 3 YEAR 5 YEAR PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE (+/-) PRICE % % % $593,419 0.6% $586,588 250.64 18.9 15.3 56.6 $818,403 1.3% $806,514 241.7 21.2 17.7 57.8 $791,994 2.0% $790,146 233.1 18.1 14.5 55.2 $719,299 6.9% $707,323 253.0 21.8 17.6 60.0 $698,066 3.5% $675,615 228.1 15.6 15.5 48.6 $469,545 2.5% $456,486 214.2 15.3 9.6 39.4 $600,653 3.6% $594,169 247.6 11.7 13.9 46.0 $938,235 2.4% $927,168 234.4 19.9 14.7 49.1 $541,599 6.5% $528,888 222.3 4.1 17.2 46.7 $575,915 4.1% $561,535 243.4 15.4 19.2 50.2 $778,751 11.8% $665,006 234.1 -0.1 5.7 44.7 $915,679 1.8% $897,948 270.3 34.2 32.5 83.6 $489,321 6.7% $511,723 185.9 -4.9 3.9 19.2 $427,864 5.0% $422,177 243.4 -1.5 5.7 34.7 $746,677 2.0% $736,859 252.9 22.8 18.9 63.8 $1,675,881 2.2% $1,666,652 278.1 35.4 30.9 87.3 $1,400,447 4.2% $1,440,626 206.3 24.3 -1.3 26.5 $502,399 0.7% $497,053 243.7 16.4 16.2 54.2 $493,368 1.3% $486,734 247.2 15.8 17.9 56.2 $452,598 2.2% $445,673 244.1 19.0 15.7 50.1 $466,097 7.2% $477,500 249.6 3.5 19.2 49.4 $319,704 2.1% $315,435 221.8 9.2 7.4 40.9 $628,406 2.2% $614,489 245.9 18.7 12.4 50.9 $407,503 2.6% $410,118 224.1 11.4 10.6 45.5 $413,887 3.3% $407,630 247.0 15.2 11.3 49.4 $513,420 1.4% $511,228 247.6 19.5 22.4 63.8 $550,950 2.7% $533,197 257.6 15.3 18.8 60.6 $775,953 2.5% $770,924 276.9 21.0 17.7 57.1 $397,779 0.5% $394,728 258.8 16.9 12.0 56.5 $355,121 1.1% $353,026 265.4 15.4 13.0 56.0 $294,860 1.8% $293,844 251.4 16.3 6.9 52.5 $364,462 4.9% $359,571 237.4 14.9 16.4 55.7 $254,845 3.2% $250,041 270.6 10.1 2.0 57.3 $302,950 1.8% $298,881 246.1 13.3 7.8 55.4 $390,383 1.9% $394,289 248.4 14.9 5.4 47.3 $252,385 1.8% $255,038 295.6 11.7 5.5 55.1 $306,550 2.8% $302,211 261.6 9.9 4.1 52.7 $337,834 1.1% $335,735 274.6 18.2 16.1 63.5 $338,483 1.8% $333,853 277.1 14.9 14.9 68.9 $512,252 0.9% $509,116 260.6 19.0 13.8 55.0 $727,384 9.2% $660,215 261.0 31.1 10.6 48.5
HOW TO READ THE TABLE: BENCHMARK PRICE: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market. PRICE RANGE: Expresed as a + or - percentage of the benchmark price, there is a 90% probability the sale price of a benchmark house is within the interval. PRICE INDEX: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In Year 2001, the indexes are averaged to 100 Key: * = Sales sample too small; Price information not reported.
Apr 2010 Dec 2009 Aug 2009 Apr 2009 Dec 2008 Aug 2008
Aug 2007 Apartment
Apr 2007 Dec 2006 Aug 2006 Apr 2006 Dec 2005
Attached
Aug 2005 Apr 2005 Dec 2004 Aug 2004
Detached
Apr 2004 Dec 2003 Aug 2003 Apr 2003 Dec 2002 Aug 2002 Apr 2002 Dec 2001 Aug 2001 Apr 2001 Dec 2000 Aug 2000 80
100
120
140
160
180
200
220
240
260
Apr 2000 280
Year 2001 average = 100
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing
Dec 2007
Price Index
Price Index - Greater Vancouver 10 Year Trend
Apr 2008
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
$310,000
$415,500
Attached
Apartment
$637,500
Detached
219
Attached
408
242
Detached
Apartment
$342,000
$470,000
Apartment
Attached
291
Attached
$773,000
398
Detached
Detached
$317,000
Apartment
629
$420,000
Apartment
$640,000
Attached
88
Attached
Detached
96
Detached
162
$340,000
Apartment
Apartment
$460,000
75
Attached
$773,000
126
Detached
Attached
$345,000
Apartment
Detached
$487,450
Attached
170
$769,000
Detached
Apartment
203
98
Attached
Apartment
127
Detached
2010
Coquit lam $245,000
$373,000
$534,500
171
80
257
$273,050
$472,500
$660,000
264
151
368
$247,000
$407,000
$535,250
59
36
104
$283,000
$465,950
$640,500
63
32
112
$279,250
$468,000
$685,000
90
59
96
Delta South $307,500
$399,900
$576,000
36
21
164
$321,000
$419,000
$635,000
55
23
159
n/a
n/a
$596,400
8
11
56
n/a
n/a
$622,500
13
8
44
n/a
n/a
$635,000
14
8
61
Islands - Gulf n/a
n/a
n/a
0
0
3
n/a
n/a
n/a
0
0
8
n/a
n/a
n/a
0
0
1
n/a
n/a
n/a
0
0
3
n/a
n/a
n/a
0
0
4
$205,000
$283,500
$435,000
54
106
306
$232,000
$310,000
$489,000
105
169
406
n/a
$299,250
$440,000
16
48
127
$232,000
$304,000
$492,000
38
50
118
$232,000
$320,500
$490,000
25
46 96
10
41
$260,000
$343,900
$490,000
234
28
61
$293,000
$418,250
$619,900
303
38
101
$280,000
n/a
$485,250
79
9
31
$274,000
n/a
$656,100
87
11
29
$299,450
n/a
$565,000
Maple R id g e/Pitt M eadow s 131
$317,000
$507,500
$725,000
210
94
236
$375,000
$635,000
$885,000
297
149
334
$337,000
$570,000
$750,000
84
49
109
$369,000
$639,500
$889,000
73
43
95
$371,000
$645,000
$890,000
104
51
121
North Vanco uver
Note: Median Selling Prices are not reported for areas with less than 20 sales or for the Gulf Islands
Year-to-date
Jan. Apr. 2009
Year-to-date
Jan. Apr. 2010
April 2009
March 2010
April 2010
Number of Sales
April 2010
17
Port C oquitla m $220,500
$359,950
$457,950
96
86
122
$237,000
$386,000
$532,500
132
87
152
$231,000
$380,000
$460,000
41
39
49
$232,750
$386,500
$545,000
40
34
45
$237,000
$378,450
$572,850
42
28
42
Port M oody/B elcarra $302,500
$388,000
$645,000
77
65
47
$352,500
$474,000
$785,000
105
76
79
$325,900
$375,000
n/a
26
24
18
$375,000
n/a
$875,000
27
19
30
$362,000
$510,000
$728,750
31
28
26
Richm ond $279,000
$410,000
$655,250
431
281
352
$328,300
$480,000
$826,500
703
418
667
$285,000
$422,000
$660,000
162
132
135
$338,000
$499,500
$848,000
200
149
222
$325,000
$476,500
$795,000
207
116
178
Squam ish n/a
n/a
$465,400
9
17
30
$265,500
$400,000
$537,000
29
31
58
n/a
n/a
n/a
3
5
11
n/a
n/a
n/a
8
8
11
n/a
n/a
$539,500
8
14
28
n/a
n/a
$369,000
10
11
89
n/a
$272,500
$415,000
16
20
156
n/a
n/a
$380,000
5
3
31
n/a
n/a
$400,000
4
2
39
n/a
n/a
$415,000
5
9
57
Sunsh ine Co ast
4
y
Burnab
er New W estmin st
Vanco uver E ast $278,950
$462,250
$609,500
259
86
420
$328,750
$570,800
$743,000
466
154
599
$274,000
$467,500
$607,300
97
38
167
$331,500
$555,000
$770,000
120
41
174
$320,500
$581,000
$750,000
144
41
168
Vanco uver W est $398,000
$606,500
$1,220,000
1,114
210
483
$465,000
$794,500
$1,726,000
1,566
236
633
$398,000
$628,000
$1,300,000
418
98
193
$484,250
$819,500
$1,745,000
387
64
208
$450,750
$762,250
$1,698,000
539
88
193
$460,000
n/a
$1,200,000
36
4
143
$685,000
$1,029,000
$1,459,500
56
26
249
n/a
n/a
$1,200,000
13
3
59
n/a
n/a
$1,465,000
18
6
72
n/a
n/a
$1,545,000
14
7
91
6
17
39
27
n/a
n/a
n/a
6
11
3
n/a
n/a
n/a
4
7
8
n/a
n/a
n/a
4
13
$270,000
$380,000
n/a
21
30
11
n/a
$505,500
$920,000
Sound Wes t V a n couve r/Howe
MLS® SALES Facts
Whistl er/Pem berton n/a
3,166
1,338
2,966
n/a
4,743
1,908
4,394
n/a
1,179
594
1,190
n/a
1,252
549
1,336
n/a
1,526
616
1,370
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
50%
50%
Attached
Apartment
43%
Detached
441
Attached
811
562
Detached
Apartment
46%
55%
Apartment
46%
530
Attached
Attached
858
Detached
Detached
73%
Apartment
1,373
73%
Apartment
63%
Attached
121
Attached
Detached
153
Detached
223
43%
Apartment
52%
Apartment
143
Attached
Attached
248
Detached
51%
47%
Apartment
Detached
56%
Attached
400
46%
Detached
Apartment
428
174
Attached
Apartment
275
Detached
2010
Coquit lam 48%
37%
40%
355
217
638
42%
48%
43%
625
313
855
63%
71%
51%
94
51
205
37%
36%
49%
172
90
230
48%
53%
34%
186
111
280
Delta South 49%
53%
49%
73
40
337
51%
41%
44%
108
56
358
47%
138%
57%
17
8
99
76%
42%
46%
17
19
96
32%
42%
52%
44
19
118
Islands - Gulf 0%
0%
6%
2
1
49
0%
n/a
12%
2
0
65
n/a
n/a
5%
0
0
19
n/a
n/a
13%
0
0
23
n/a
n/a
24%
0
0
17
32%
40%
40%
170
262
759
36%
57%
44%
291
299
917
37%
89%
65%
43
54
194
68%
55%
49%
56
91
241
43%
53%
45%
58
86
293
Maple R id g e/Pitt M eadow s 50%
43%
41%
464
65
147
44%
75%
49%
686
51
208
69%
43%
91%
114
21
34
44%
69%
43%
197
16
68
56%
100%
59%
172
10
69
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Apr. 2009
Year-to-date*
Jan. Apr. 2010
April 2009
March 2010
April 2010
Number of Listings
April 2010
17
North Vanco uver 47%
43%
45%
447
218
530
42%
57%
46%
710
262
728
71%
70%
73%
118
70
150
36%
54%
45%
203
79
211
48%
57%
44%
216
90
275
Port C oquitla m 51%
56%
56%
189
153
216
46%
53%
44%
289
163
346
68%
98%
89%
60
40
55
49%
69%
47%
82
49
95
59%
67%
36%
71
42
117
Port M oody/B elcarra 42%
42%
29%
184
154
164
35%
55%
40%
298
138
199
52%
52%
41%
50
46
44
38%
50%
58%
71
38
52
34%
58%
41%
91
48
63
Richm ond 53%
56%
46%
814
502
762
51%
57%
53%
1,366
733
1,263
62%
78%
63%
263
169
213
51%
61%
60%
393
243
372
52%
50%
46%
396
230
385
Squam ish 11%
22%
25%
80
76
122
45%
36%
35%
65
87
168
8%
18%
29%
39
28
38
53%
32%
20%
15
25
54
35%
52%
57%
23
27
49
Sunsh ine Co ast 22%
42%
24%
46
26
375
31%
36%
28%
51
55
556
17%
38%
29%
29
8
107
27%
17%
26%
15
12
151
167%
90%
35%
3
10
162
40%
41%
53%
641
212
799
49%
53%
48%
947
292
1,238
55%
47%
69%
175
81
242
43%
65%
53%
276
63
331
47%
35%
41%
306
117
408
Vanco uver E ast
4
y
Burnab
er New W estmin st
Vanco uver W est 48%
43%
56%
2,327
490
869
42%
42%
50%
3,747
567
1,258
76%
81%
73%
552
121
266
33%
37%
56%
1,168
175
370
46%
45%
46%
1,163
194
424
Sound 35%
10%
35%
104
41
412
35%
38%
40%
160
68
626
46%
21%
48%
28
14
124
44%
43%
40%
41
14
179
33%
28%
47%
42
25
195
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
22%
23%
14%
95
129
80
11%
25%
22%
148
159
123
35%
33%
16%
17
33
19
11%
14%
24%
38
49
33
8%
28%
15%
50
47
39
Whistl er/Pem berton n/a
6,802
3,027
6,821
n/a
10,866
3,773
9,766
n/a
1,822
865
1,962
n/a
3,144
1,106
2,754
n/a
3,249
1,230
3,169
Real Estate Board of Greater Vancouver Listing & Sales Activity Summary Listings
Sales
1 Apr 2009
2 Mar 2010
3 Apr 2010
5 Apr 2009
6 Mar 2010
7 Apr 2010
153 121 223
248 143 400
275 174 428
10.9 21.7 7.0
96 88 162
126 75 170
127 98 203
0.8 30.7 19.4
213 201 366
330 235 517
54.9 16.9 41.3
205 51 94
230 90 172
280 111 186
21.7 23.3 8.1
104 36 59
112 32 63
96 59 90
-14.3 84.4 42.9
230 73 139
302 125 211
31.3 71.2 51.8
99 8 17
96 19 17
118 19 44
22.9 0.0 158.8
56 11 8
44 8 13
61 8 14
38.6 0.0 7.7
151 20 34
143 22 48
-5.3 10.0 41.2
194 54 43
241 91 56
293 86 58
21.6 -5.5 3.6
127 48 16
118 50 38
131 46 25
11.0 -8.0 -34.2
268 93 43
334 144 87
24.6 54.8 102.3
150 70 118
211 79 203
275 90 216
30.3 13.9 6.4
109 49 84
95 43 73
121 51 104
27.4 18.6 42.5
224 90 187
294 124 242
31.3 37.8 29.4
34 21 114
68 16 197
69 10 172
1.5 -37.5 -12.7
31 9 79
29 11 87
41 10 96
41.4 -9.1 10.3
55 23 210
91 28 256
65.5 21.7 21.9
44 46 50
52 38 71
63 48 91
21.2 26.3 28.2
18 24 26
30 19 27
26 28 31
-13.3 47.4 14.8
45 59 67
66 65 83
46.7 10.2 23.9
55 40 60
95 49 82
117 42 71
23.2 -14.3 -13.4
49 39 41
45 34 40
42 28 42
-6.7 -17.6 5.0
111 81 86
127 80 113
14.4 -1.2 31.4
213 169 263
372 243 393
385 230 396
3.5 -5.3 0.8
135 132 162
222 149 200
178 116 207
-19.8 -22.1 3.5
322 268 375
554 346 561
72.0 29.1 49.6
107 8 29
151 12 15
162 10 3
7.3 -16.7 -80.0
31 3 5
39 2 4
57 9 5
46.2 350.0 25.0
81 9 10
129 18 14
59.3 100.0 40.0
38 28 39
54 25 15
49 27 23
-9.3 8.0 53.3
11 5 3
11 8 8
28 14 8
154.5 75.0 0.0
26 15 6
49 25 19
88.5 66.7 216.7
242 81 175
331 63 276
408 117 306
23.3 85.7 10.9
167 38 97
174 41 120
168 41 144
-3.4 0.0 20.0
378 75 237
487 118 376
28.8 57.3 58.6
266 121 552
370 175 1168
424 194 1163
14.6 10.9 -0.4
193 98 418
208 64 387
193 88 539
-7.2 37.5 39.3
437 196 997
531 206 1268
21.5 5.1 27.2
19 33 17
33 49 38
39 47 50
18.2 -4.1 31.6
3 11 6
8 7 4
6 13 4
-25.0 85.7 0.0
10 23 15
22 26 10
120.0 13.0 -33.3
124 14 28
179 14 41
195 25 42
8.9 78.6 2.4
59 3 13
72 6 18
91 7 14
26.4 16.7 -22.2
121 3 33
223 19 47
84.3 533.3 42.4
1943 865 1822
2731 1106 3144
3152 1230 3249
15.4 11.2 3.3
1189 594 1179
1333 549 1252
1366 616 1526
2.5 12.2 21.9
2672 1229 2805
3682 1581 3852
37.8 28.6 37.3
%
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
Col. 6 & 7 Percentage Variance
9 Feb 2009 Apr 2009
10 Feb 2010 Apr 2010
%
Col. 9 & 10 Percentage Variance
%
COQUITLAM DETACHED ATTACHED APARTMENTS
DELTA DETACHED ATTACHED APARTMENTS
MAPLE RIDGE/PITT MEADOWS DETACHED ATTACHED APARTMENTS
NORTH VANCOUVER DETACHED ATTACHED APARTMENTS
NEW WESTMINSTER DETACHED ATTACHED APARTMENTS
PORT MOODY/BELCARRA DETACHED ATTACHED APARTMENTS
PORT COQUITLAM DETACHED ATTACHED APARTMENTS
RICHMOND DETACHED ATTACHED APARTMENTS
SUNSHINE COAST DETACHED ATTACHED APARTMENTS
SQUAMISH DETACHED ATTACHED APARTMENTS
VANCOUVER EAST DETACHED ATTACHED APARTMENTS
VANCOUVER WEST DETACHED ATTACHED APARTMENTS
WHISTLER DETACHED ATTACHED APARTMENTS
WEST VANCOUVER/HOWE SOUND DETACHED ATTACHED APARTMENTS
GRAND TOTALS DETACHED ATTACHED APARTMENTS
0
200
400
600
800
1000
1200
CONDOMINIUM
ATTACHED
APARTMENTS
$427,847
$551,385
$1,003,884
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
IN THOUSANDS ($)
DETACHED
Real Estate Board of Greater Vancouver Average Price Graph January 1977 to April 2010
